Crypto Flipsider News – August 20th – Polygon DAO, OnlyFans, Cardano ATH, a16z into play-to-earn, Lionel Messi and Mike Tyson

Market Update; Animoca Brands Funding; Ethermine Staking Service; Hodlnaut’s IJM Approved; Qatar Crypto License
  • Polygon to step up its game by forming DAO.
  • OnlyFans to ban adult content. Says Bitcoin can save this feature.
  • Cardano’s new ATH, and the other biggest bulls of the night.
  • Andreessen Horowitz invests in play-to-earn gaming.
  • NFT news: 1confirmation; Lionel Mess; Mike Tyson; Dom Hofmann’s Supdrive.

Polygon To Step Up Its Game by Forming DAO

Polygon’s CEO and Co-founder announced that they are going to build a decentralized autonomous organization (DAO) in order to bring 100 million users into the ecosystem. As Polygon is an Ethereum scaling solution, not to mention one of the biggest by market capitalization, the prophecies are coming true, Ethereum killers are becoming able to make their own ETH 2.0 with DAO and low fees.

Flipsider:

  •  Yes, Ethereum killers are usually much more promising. They provide the features promised by the anticipated ETH 2.0 here and now. On the other hand, what they really lack is matching volumes of market capitalization. Regardless, Ethereum has remained the second largest crypto so far. 

OnlyFans to Ban Adult Content. Edward Snowden Says Bitcoin Can Save This Feature

Onlyfans has announced that it will prohibit pornographic material due to pressure from banking partners and payment providers. Although it’s not their main focus, the platform certainly became popular because of the possibilities it afforded creators in sharing exclusive sexually-explicit content with their fans. Edward Snowden tweeted his proposal to instead use Bitcoin for these purposes.

Flipsider:

  • Usually, to say that Bitcoin is the cure to everything is typical of Bitcoin maxis. However, in this case it might be the truth due to the decentralized nature of crypto which circumvents the alleged pressure from banking partners.  

Cardano’s new ATH and the Other Biggest Gainers

  • Cardano (ADA) had another growth spurt, reaching a new $2.54 ATH. The 3rd largest crypto by market cap increased its value by 21% over 24 hours. Trading volumes also climbed by 96%, to almost top $10 billion.
  • The Graph (GRT) also showed 20% growth (from $0.9 to $1.09) over 24h. The Graph is a decentralized indexing protocol for querying networks including Ethereum. It was integrated into Polygon at the end of July. SwissBorg (CHSB) climbed by almost 35% (from $0.72 to $0.97, twice). Its 24 hour volume also went up by 676% ($19.3M). The CHSB token powers the SwissBorg Wealth App, which connects various crypto exchanges, allowing the trade of cryptos with fiat.

Flipsider:

  • The Altcoin market has been bullish recently. Investors are diversifying, and Cardano is gaining momentum because of the upcoming smart contract launch in September.

Andreessen Horowitz Invests in Play-to-Earn Gaming

Venture capital legend Andreessen Horowitz (a16z) is investing in the play-to-earn gaming industry. A16z led a $4.6 million funding round for Yield Guild Games (YGG).

Yield Guild Games (YGG) is a Philippines-based gaming startup for investing in NFTs used in virtual worlds and blockchain-based games. A16z believes that NFT-based play-to-earn games are the next major innovation in gaming.

Flipsider:

  • A16z is seizing the day. The gaming industry is seeing massive growth. Multiple people in emerging markets like the Philippines have used play-to-earn games throughout the pandemic with some even earning more than they had in their jobs.

NFT news: 1confirmation; Lionel Messi; Mike Tyson; Dom Hofmann’s Supdrive

  • 1confirmation, the investment firm supported by Peter Thiel and Mark Cuban, has announced an investment in NFT project Catalog. 
  • Catalog aims to serve a specific corner of the NFT market, namely independent music artists. The company has so far raised $2.2 million. 
  • Argentine soccer star Lionel Messi has launched his own collection of NFT crypto art, created with his image by digital designer BossLogic. The set will go on sale on Friday.
  • Boxing legend Mike Tyson has dropped a series of tokenized collectibles. 
  • Together with artist Cory Van Lew, Mike Tyson today launched the “Mike Tyson NFT Collection,” which consists of 11 ‘one-of-one’ NFTs up for auction, and six open edition NFTs that range from 50 to 250 copies. Dom Hofmann – Vine’s founder, is now working on NFT blockchain video games. The new project is called “Supdrive.” It will be a video game console that plays classic-style games, with NFTs acting as a sort of virtual cartridge.

Flipsider:

  • While celebrities keep popping up with NFTs, serious NFT projects like ‘’Catalog’’ are raising millions to create a platform that serves independent music artists. It‘s only fair to ask: which will be more valuable in the long run?

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